Assume that Serena Williams desires to accumulate $850,000 in 14 years using her money market fund balance of $197,196. At what interest rate must Serena’s investment compound annually? (Round answer to 0 decimal places, e.g. 5%.) Solution Answer At, ‘n’ rate of Interest compounded annually, $ 197,196 will become $ 850,000 Present Value factor of interest rate for 14th year = 197196 / 850000 = 0.231995…. Year 5% 10% 11% 1 0.952380952 0.909090909 0.900900901 2 0.907029478 0.826446281 0.811622433 3 0.863837599 0.751314801 0.731191381 4 0.822702475 0.683013455 0.658730974 5 0.783526166 0.620921323 0.593451328 6 0.746215397 0.56447393 0.534640836 7 0.71068133 0.513158118 0.481658411 8 0.676839362 0.46650738 0.433926496 9 0.644608916 0.424097618 0.390924771 10 0.613913254 0.385543289 0.352184479 11 0.584679289 0.350493899 0.317283314 12 0.556837418 0.318630818 0.285840824 13 0.530321351 0.28966438 0.257514256 14 0.505067953 0.263331254 0.231994825 Year 5% 10% 11% 1 0.952380952 0.909090909 0.900900901 2 0.907029478 0.826446281 0.811622433 3 0.863837599 0.751314801 0.731191381 4 0.822702475 0.683013455 0.658730974 5 0.783526166 0.620921323 0.593451328 6 0.746215397 0.56447393 0.534640836 7 0.71068133 0.513158118 0.481658411 8 0.676839362 0.46650738 0.433926496 9 0.644608916 0.424097618 0.390924771 10 0.613913254 0.385543289 0.352184479 11 0.584679289 0.350493899 0.317283314 12 0.556837418 0.318630818 0.285840824 13 0.530321351 0.28966438 0.257514256 14 0.505067953 0.263331254 0.231994825.